US Army APIs, CloudPay $120M, Okta Auth for GenAI
The API Changelog issue 2024.43
This is issue 2024.43 of the API Changelog, a mix of API news, commentary, and opinion. In this issue, you'll get to know the most relevant API-related information from the week of October 14, 2024. Subscribe now, so you never miss an issue of the API Changelog.
News highlight
Stripe has acquired stablecoin platform Bridge in a $1.1B deal, marking the largest acquisition for the fintech giant and one of the largest in the cryptocurrency industry to date. Bridge, co-founded by former Coinbase executives Zach Abrams and Sean Yu in 2022, provides an API that assists companies in accepting stablecoins. The company, valued at $200M, raised $58M this year from investors Sequoia, Ribbit Capital, and Index Ventures. Stripe has also refocused on crypto payments, partnering with Coinbase to incorporate its Layer 2 network Base into its crypto pay-out products. The fintech company's valuation surged to $70B this year after VC Sequoia offered to buy up to $86M in Stripe shares at $21.51 each.
See additional coverage on TechCrunch and Fintech Futures.
This issue of the API Changelog was crafted with the help of Flotiq.
Flotiq is an intuitive content management system for designing OpenAPI-compliant APIs, offering unparalleled extensibility to accelerate development with easy-to-use SDKs, comprehensive API documentation, and a user-friendly interface for seamless API and content integration.
Announcements
Twelve telecom giants, including América Móvil, have partnered with Ericsson to develop a joint platform for monetizing network APIs. This alliance aims to create a $30B market by 2030 and transform telecom services with direct, dynamic access to resources. See additional coverage on Vanilla Plus and The Fast Mode.
Autodesk unveils Flow Animating in Context, integrating Maya with Flow Production Tracking for streamlined editorial data usage. New Flow Graph Engine API allows cloud processing of Maya Bifrost graphs, fostering collaboration and efficiency in media production. See additional coverage on engineering.com.
Crew Clothing Company is partnering with BigCommerce to enhance its e-commerce across multiple brands, with added support from IDHL. Cegid expanded its relationship with Crew Clothing, deploying its Newsfeed feature to streamline communication in the brand's 105 stores.
Google unveiled its Ads API's 18th version, enhancing optimization features and performance analysis tools. The update grants developers precise control and insights, aiming for improved ad campaigns and advertiser ROI.
LiveRamp's Authenticated Traffic Solution now integrates with TikTok's Events API, enhancing ad conversion tracking and campaign optimization for advertisers. This collaboration offers marketers real-time insights and optimization in cookieless environments to improve advertising performance and ROI.
Amazon S3 adds Region filtering and bucket name prefix support to its ListBuckets API. These features enable users to list buckets by specific Regions or name prefixes using AWS tools.
Red Hat and the U.S. Army's DEVCOM ARL collaborate on open-source APIs to advance AI technology adoption. The APIs, aligning with the TORC framework, will enhance Project Linchpin, fostering multivendor AI tool support and preventing vendor lock-in.
Funding
Quartr, a software provider for finance and IR professionals, secured a $6 million investment from Altos Ventures. Altos, known for long-term investments, joins Quartr's board to boost market share and strategic collaboration.
CloudPay, a payroll solutions provider, has secured US$120m in funding led by Blue Owl Capital. The investment will enable CloudPay to enhance its product offerings and technology solutions, focusing on deploying artificial intelligence for data management and improving connectivity through APIs. The fintech, which serves over 280 corporate clients across 130 countries, plans to invest in automating and scaling processes, as well as improving connectivity within its global payroll, payment, and human capital management partners.
Healthie, an API-first healthcare platform, secured $23 million in Series B funding to fuel product innovation and expand services. The investment will also foster Healthie's marketplace and AI-driven clinical tools, reinforcing its support for virtual, long-term care delivery. See additional coverage on Pulse 2.0.
The co-founders of Flinks, Yves-Gabriel Leboeuf and Frédérick Lavoie, launched Deck to automate and centralize energy consumption tracking for businesses. Deck has raised a combined $6.5 million USD from Golden Ventures, Better Tomorrow Ventures, and Luge Capital to advance its utility data infrastructure and support sustainability reporting.
Herald, a digital insurance infrastructure firm, secured $12 million in Series A funding to enhance API and AI integration for brokers and carriers. The investment aims to standardize data exchange, streamline workflows, and expand Herald’s product offerings and insurance partnerships.
Gladia, an artificial intelligence transcription firm, completed a $16 million Series A round for multilingual audio infrastructure. The firm's new product boasts less than 300ms latency and aids companies in diverse markets with real-time transcription and insights.
Yellow Card secured $33 million in Series C funding to boost its stablecoin-based API and payment solutions. The investment propels the company's expansion across 20 African nations and its foothold in the continent's evolving fintech landscape.
AI
Okta has unveiled Auth for GenAI to help developers incorporate Generative AI securely, offering features like asynchronous authentication and fine-grained authorization. The solution focuses on protecting data and ensuring safe API interactions, along with a Developer Portal for API exposure and additional enhancements for logout and SSO setups.
Jina AI launched g.jina.ai, an AI tool providing real-time web search grounding to counter misinformation in AI and human content. The g.jina.ai API delivers a factuality score and references, enhancing factual accuracy for content by leveraging real-time data sources.
Vida, an AI voice solutions leader, integrates OpenAI's Realtime API for emotionally rich, multilingual customer service. The company highlights its latest upgrade to offer low-latency, real-time, and engaging AI-powered conversations. See additional coverage on Telecom Reseller.
Elon Musk's social media platform X has updated its policies to allow third-party AI training on user posts and resolve disputes in Texas federal court. The new terms, effective November 15, 2024, also include penalties for data scraping and vague opt-out provisions for data sharing.
Fintech and Crypto
Snowdrop Solutions has enhanced its merchant reconciliation system by migrating to Google Cloud, boosting daily transaction processing from 20 million to 1.47 billion. Utilizing Google Places API, the company enhances transaction clarity for financial institutions by expanding its merchant database with accurate data.
The BIS Committee on Payments and Market Infrastructures (CPMI) delivered two reports to the G20 on improving cross-border payments through fast payment system interlinking and API harmonization. These reports suggest enhanced interoperability and provide recommendations to standardize APIs, aiming for cost-effective, transparent international payments. See additional coverage on Global Regulation Tomorrow.
Red Oak Compliance announced its enhanced Registration Management module, aiding firms to maintain compliance with a new FINRA API. The module streamlines registration processes, and the company offers free advisory services to navigate the impending system changes.
Trovata announces a partnership with Swift to bring Swift's tracking capabilities to more businesses via API connectivity. The integration allows corporate customers seamless access to banking data and real-time liquidity monitoring, enhancing cash flow management through Swift's global network.
Security
Cequence Security appoints Randolph Barr as CISO, bringing over 20 years of experience in cybersecurity, IT, and risk management. Barr has led leadership roles at Zoom Video Communications, Qualys, Cisco-Webex, and InterVenn Biosciences, where he advised executives, identified security gaps and led incident response efforts. Cequence focuses on tackling API security, as organizations increasingly rely on APIs for web applications and AI integration. Barr plans to build on Cequence's internal security program foundation, ensuring transparency and staying ahead of emerging threats. See additional coverage on SecurityBrief, Securityinformed.com, and SourceSecurity.com.
RidgeBot 5.0 introduces AI-driven web API testing and better integration with top vulnerability management systems for improved defenses. It leads in automated pen testing with HTTP API checks, aiding in protection against the OWASP API Security Top 10. See additional coverage on Silicon.
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